Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li>Chailease offers an alternative view on China lending than the large mainstream banks there</li>
<li>Data through 9M24 shows very high growth of its China impairment costs at +62% YoY</li>
<li>Its lending in China is slowing sharply, often a reaction to worsening credit metrics</li>
</ul>


Chailease offers an alternative view on China lending than the large mainstream banks there
Data through 9M24 shows very high growth of its China impairment costs at +62% YoY
Its lending in China is slowing sharply, often a reaction to worsening credit metrics


Chailease - A Window on China Lending, +62% Impairment Costs, Decelerating Loan Growth in China

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 29th which has an aggregated holding worth USD969.3bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,625mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Catcher Technology, TSMC, Hon Hai Precision Industry, Asustek Computer, UMC, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 29th which has an aggregated holding worth USD969.3bn.
We estimate that foreign flows to be outflows of USD2,625mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Catcher Technology, TSMC, Hon Hai Precision Industry, Asustek Computer, UMC, Mediatek.


TWSE Foreign Holding Weekly (Nov 29th): Catcher Technology, TSMC, Hon Hai, Asustek Computer, UMC

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 22nd which has an aggregated holding worth USD1,003.7bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,568mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Yang Ming Marine, TSMC, Hon Hai Precision Industry, Quanta Computer, Asustek Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 22nd which has an aggregated holding worth USD1,003.7bn.
We estimate that foreign flows to be outflows of USD1,568mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Yang Ming Marine, TSMC, Hon Hai Precision Industry, Quanta Computer, Asustek Computer.


TWSE Foreign Holding Weekly (Nov 22nd): Yang Ming Marine, TSMC, Hon Hai Precision, Quanta, Asustek

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 15th which has an aggregated holding worth USD999.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,830mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Eva Airways, Mitac, TSMC, Quanta Computer, Hon Hai Precision Industry, Chailease, UMC.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 15th which has an aggregated holding worth USD999.2bn.
We estimate that foreign flows to be outflows of USD2,830mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Eva Airways, Mitac, TSMC, Quanta Computer, Hon Hai Precision Industry, Chailease, UMC.


TWSE Foreign Holding Weekly (Nov 15th): Eva Airways, Mitac, TSMC, Quanta Computer

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 8th which has an aggregated holding worth USD1,059.5bn.</li>
<li>We estimate that foreign flows to be inflows of USD77mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Quanta Computer, Hon Hai Precision Industry, Foxconn Technology, Wistron, TSMC, Mediatek, United Microelectronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 8th which has an aggregated holding worth USD1,059.5bn.
We estimate that foreign flows to be inflows of USD77mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Quanta Computer, Hon Hai Precision Industry, Foxconn Technology, Wistron, TSMC, Mediatek, United Microelectronics.


TWSE Foreign Holding Weekly (Nov 8th): Quanta Computer, Hon Hai Precision Industry

Taiwan

Chailease Holding Co Ltd provides financing services such as leasing, installment sale, import/export factoring and direct financing.

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Chailease Holding (5871 TT)

Chailease - A Window on China Lending, +62% Impairment Costs, Decelerating Loan Growth in China

Chailease offers an alternative view on China lending, where its loan growth is slowing sharply, where credit costs to loans are rising...

Daniel Tabbush

TWSE Foreign Holding Weekly (Nov 29th): Catcher Technology, TSMC, Hon Hai, Asustek Computer, UMC

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Catcher Technology, TSMC, Hon Hai Precision...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Nov 22nd): Yang Ming Marine, TSMC, Hon Hai Precision, Quanta, Asustek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Yang Ming Marine, TSMC, Hon Hai Precision...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Nov 15th): Eva Airways, Mitac, TSMC, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Eva Airways, Mitac, TSMC, Quanta Computer, Hon...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Nov 8th): Quanta Computer, Hon Hai Precision Industry

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Quanta Computer, Hon Hai Precision Industry,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)